$15 America-Europe Flights Grounded

The company's board has retracted its confirmation that ultra-cheap transatlantic flights -- as low as $15, before fees, surcharges and taxes -- are in the works. According to a statement issued to the London Stock Exchange:

In the light of recent press coverage, the Board of Ryanair Holdings P.L.C. wishes to clarify that it has not considered or approved any trans-Atlantic project and does not intend to do so."

Thursday's one-sentence statement contradicts what the Irish airline company announced earlier last week. CNN Money reported that it received an email statement Tuesday containing the following:

"The board of Ryanair ... have approved the business plans for future growth, including transatlantic. We would like to offer low cost flights between 12-14 European cities and 12-14 U.S. cities. The business plan is there, but it's dependent on attaining viable long-haul aircraft, and we estimate that's four to five years away."

Financial Times reports that Ryanair's outspoken chief executive, Michael O'Leary, told the publication that the company made a mistake, saying "it was a miscommunication."

What do you make of the news of Ryanair's U-turn? Are you surprised or did you think it sounded too good to be true from the start? Sound off in a comment below or on our Facebook page. Like this article? Sign up for our newsletter and we'll send you a regular digest of our newest stories, full of money saving tips and advice, free! We'll also email you a PDF of Stacy Johnson's "205 Ways to Save Money" as soon as you've subscribed. It's full of great tips that'll help you save a ton of extra cash.